https://www.taxtmi.com/highlights?id=65867 Disallowance being 10% of expenditure - Disallowance of expenditure @ 10% of the expenditure in the instant case appears to be on the higher side since it gives a profit rate of 37.78% which is not possible in the line of business. Considering the fact that the assessee has already declared profit rate of 9.29%, the disallowance on lumpsum basis in the instant case, in our opinion, meet the ends of justice. - AT en-us Thu, 29 Sep 2022 18:27:14 +0530 Thu, 29 Sep 2022 18:27:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65867 Disallowance being 10% of expenditure - Disallowance of expenditure @ 10% of the expenditure in the instant case appears to be on the higher side since it gives a profit rate of 37.78% which is not possible in the line of business. Considering the fact that the assessee has already declared profit rate of 9.29%, the disallowance on lumpsum basis in the instant case, in our opinion, meet the ends of justice. - AT Highlights Income Tax Thu, 29 Sep 2022 18:27:14 +0530 https://www.taxtmi.com/highlights?id=65867